TECH & AI
A ROBUST NETWORK
of truth ’. There has been a mindset change that involves businesses recognising that maintaining their own data no longer provides the key to competitive advantage .”
Sari ’ s take is that collaboration with external stakeholders is needed to deliver agility , resilience , automation , sustainability , surety of supply and Big Data insights – all elements on which a successful future depends .
Such a collaborative approach has the potential to create a consortium of likeminded companies looking to find cost reductions and increased efficiency by pooling talent and resources .
Supplier collaboration platforms improving visibility While market uncertainty has become a new normal for many businesses over the past few years , navigating continued volatility and disruption is certain to impact supply chain and business planning processes .
Sari contends that , when a value chain can operate from a shared ‘ single source of truth ’, it enables a transition from a linear supply chain consisting of disconnected tiers to a robust , many-to-many network .
This achieves several things , including :
• Improved risk management through a single source of data and visibility
• Proactive understanding of the impact of disruptions and resilience through better oversight of suppliers
• Opportunities for operational optimisation based on trusted information – for example uniqueness , tokenisation , distributed business logic , selective data sharing and auditability
• Process automation across a multi-party ecosystem
• New financial models and commercial structures to innovate traditional methods
• Reduced risk of being out of sync and requiring costly reconciliations – a systemic problem that persists at every level between accounting and payment and between statement and forecast
• Creation of customer-driven platforms that put customers at the heart of operations
• Transformation of the digital core , shifting from a technology landscape of static , standalone parts to interoperable pieces which are intentionally integrated and leverage the cloud , data , AI and more to empower companies to swiftly adapt and scale their capabilities